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{
    "id": 724004,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/724004/?format=api",
    "text_counter": 201,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "Hon. Jakoyo, you know Hon. Wamunyinyi is one of my disciples. I want him to hear. The whole of that amendment is dealing with the issue of apparent claims of county governments, and county entities operating multiple accounts in many banks. So, we are saying they can have their accounts in the Central Bank of Kenya (CBK). The only account we can allow them, by law, is the one dealing with imprest; emergency. For that one, they must do it in a government-owned bank. Why am I saying this? They may, for example, take money to Chase Bank, earn interest or take it to banks owned by colleagues. As we speak, Chase Bank has sunk with billions of shillings of parastatal money including the money from the National Government Constituencies Development Fund (NG- CDF). There are Members here whose NG-CDF is stuck in Chase Bank. So, we must protect the money we appropriate in this House. Secondly, how do we ensure this? This amendment is trying to enforce the use of the Treasury Single Account with the operational account to be limited to Government-approved banks only and to ensure counties’ own revenue is also remitted to County Revenue Fund. As we speak, my friend the Governor of Nairobi, for example, collects billions in a day but that money does not end up in the County Revenue Fund because counties have opened thousands of accounts, even with SACCOs. They have even put their money in merry go rounds. We are trying to streamline that so that even overdrafts, they should borrow from the CBK. They should not borrow overdrafts from any other banks because they borrow an overdraft when they are given a certain percentage. They should not keep our money in other banks to earn interest. I really want the House to agree with me on these amendments. Even Hon. Gumbo is shaking his head because he is going to be one of the best governors who will protect public resources. If you are here and you want to become a governor, this amendment is good for you and the people of Kenya."
}